- Realty Assist received $4 million from private investors, and secured a $20 million warehouse funding facility
- The Agency and Laing+Simmons are backing the products
- Realty Assist said their schemes can help people enter the market more easily
Realty Assist has raised $24 million for ‘buy-now-pay-later’ real estate finance products with funding led by CPS Capital.
The company received $4 million from private investors, secured a $20 million warehouse funding facility, and won backing from industry players like The Agency and Laing+Simmons.
Realty Assist CEO Sam Rettke said, “(the company) has earned financial backing from investors and is growing a large client list at the perfect time – right before the Australian summer when we expect there will be a surge in demand for properties across the nation, especially as major property markets like NSW emerge from COVID lockdowns and life begins to open up again – a moment we think scores of Australian property owners and investors have been waiting a long time for.”
CPS Capital managing director Jason Peterson said, “Client appetite was extremely strong from sophisticated and professional investors across the globe for both equity and debt offerings.”
The Afterpay of real estate
Realty Assist’s digital financial products speed up Vendor Paid Advertising, commissions, settlement and maintenance for investors, homeowners, and landlords, while also helping renters and first-time buyers enter the market more easily with bridging loans and bonds.
SettlementCollect, one of Realty Assist’s products, allows members to access up to 80% of the equity in their property’s sale up to 60 days in advance.
Realty Assist said an advantage like this could allow investors in a red-hot market like Sydney to secure a property at a better price than if they had waited for the usual process.
Industry support
The Agency CEO Matt Lahood said, “I’ve got the feeling that there’s still a lot of people that haven’t come back to Australia yet – on last count I think there were 40,000 expats still trying to come back to Australia – and so a large percentage of them are going to want to buy.
“I think that’s going to give us a real run – a lot of them won’t be coming back this side of Christmas, so it looks like the growth will continue at least all the way through to mid-year next year.”
Laing+Simmonds CEO Leanne Pilkington said the reason the company signed on as a member was because of Realty Assist’s ‘one-stop-shop’ mentality.
“We spoke to a number of businesses already using Realty Assist, and the feedback has been amazing in regard to the products on offer and the level of customer service provided.”
A number of Ray White and LJ Hooker branches are growing in their support of Realty Assist.
